“In all these respects economics is important, so much so that it behooves us to be attentive to the limits of our work and, therefore, to the reasons we must be diffident and restrained in making policy recommendations. In affirming this position, ….. economists must dutifully and constantly pay attention and give explicit effect to the limitations of their tools, models, theories, paradigms, lines of reasoning, and so on.”

“For all of these reasons and in all of these respects it seems to me that the true scientific and scholarly spirit requires considerable diffidence and restraint by economists. ….. Economics, for all its limits, is one of mankind’s great possessions. Economics is rich and robust, indeed more so than its typical detractors and critics acknowledge. But the nature of its practice and its strength carries with it limitations. Diffidence, not hubris, is called for. … Let a sense of modesty replace hubris. Let a sense of perspective, openness and multiplicity and a tolerance for ambiguity replace the lust to be authoritative. Let the exercise of professional expertise enlighten the choice process rather than serve, illegitimately, to mask both ideology and the surreptitious making of normative assumptions.”(Samuels, 1998, p. 346, pp. 360~361)

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